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The Economy and Trade Ministry has completed a draft law that will encourage insurance companies to merge by giving them subsidized loans. Mergers will enable insurance companies to increase their capital and hence they will be capable of offering better quality...

The introduction of a GCC-wide system of value added tax (VAT) is likely to have a significant impact on financial services, particularly insurance-related businesses. It has the potential to seriously skew the cost base of the insurance industry.

The Council of Cooperative Health Insurance is exploring the possibility of including Haj and Umrah pilgrims in the national insurance scheme where Umrah and Haj foreign pilgrims to Saudi Arabia may also have to acquire mandatory health insurance, from which they...

The Central Bank of Bahrain (CBB) plans to issue new Islamic insurance standards. The central bank would continue to enhance and improve the regulatory infrastructure for the growth and improvement of the industry, he said. Standards last issued by CBB for takaful...